Get a 2nd opinion and a written plan
THE SITUATION
Gisèle is a businesswoman who was about to sell her shares in a retail business. She was experiencing a breach of trust with her advisor, who in her eyes was more of a seller of financial products than an advisor. He had sold her an insurance policy with a large premium, promising tax-free income in the future from this complex product. Several professionals around her questioned the validity of this proposed client strategy. Gisèle did not have an overview of her financial situation.
Objectives
- Obtain a 2nd opinion on your financial situation
- Know the added value and potential income to be derived from a permanent life insurance policy** with an annual premium of $50,000
- Obtain a written financial plan* of your retirement income
The key figures
- Retirement savings: $560,000
- Savings management company: $2,400,000
- Amount receivable – sale of shares: $800,000
- Annual premium for life insurance policy: $50,000
Total net worth: $3,800,000
Our solutions and results
We offered personalized financial planning* to Gisèle to understand her financial situation and better advise her, with specific recommendations. Immediately a feeling of trust was established during the first meeting. It was therefore a matter of carrying out retirement planning taking into account portfolios held personally and through management and also answering all her questions about various products that she held.
- We have produced a personalized financial plan* with 10 recommendations
- The life insurance policy was canceled and she recovered a significant amount of money; in his situation, without descendants, it was not relevant to keep this product for several reasons.
- A tax-efficient investment portfolio has been put in place (generating capital gains rather than interest and dividends from foreign sources).
- Recommendations were proposed and accepted for his retirement plan and savings.
- The growth of the investment portfolio largely financed its cost of living and the taxes payable on the sale of shares.
- After 5 years, the value of net worth has increased significantly.
Since then, Gisèle has enjoyed her retirement from business very well. She meets our advisors 2 or 3 times during the year, to inform her of the outlook on the financial markets and to keep her up to date on her concerns. Gisèle is so satisfied that she has already recommended relatives to do business with us.
